The 2021-22 Budget maintains the momentum of Australia’s economic recovery. It supports jobs and guarantees services and is the next stage of the Government’s economic plan to secure Australia’s recovery.
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The Budget supports the safety and economic security of women, through the $1.1 billion women’s safety package providing financial assistance for women to escape violent relationships.
The Government is delivering a further $7.8 billion in personal income tax cuts by extending the low and middle income tax offset for an additional year. This will support more than 10 million low- and middle-income earners.
The Government is committing an additional $15.2 billion towards infrastructure projects across Australia.
The Government is investing $1.2 billion to implement a comprehensive Digital Economy Strategy, including investing in the digital infrastructure and skills to grow Australia’s digital economy.
The Government is investing $4.6 billion to assist vulnerable unemployed Australian into work through a range of measures, including by boosting jobactive, Transition to Work and ParentsNext wage subsidies, investing in youth employment services and uncapping and expanding access to foundational skills for job seekers.
The Government is providing $20.7 billion in tax relief to businesses by extending temporary full expensing and temporary loss carry-back for an extra year.
The Government is spending $2.7 billion to extend the Boosting Apprenticeship Commencements program so that a 50 per cent wage subsidy for 12 months is available for new apprentices and trainees.
A $1.2 billion package for the aviation and tourism sectors to keep planes in the air, safeguard jobs and encourage Australians to explore their own backyard. .
The Government is supporting over one million families with an additional $1.7 billion to further reduce the cost of child care. This investment will give families greater choice and flexibility to manage work and care.
Around $300 million to help activate and support the successful re-opening of Australia’s creative and cultural sector.
The Government is committing record additional funding of $17.7 billion over five years to reform the aged care system. This investment will make the system more accessible, improve the quality of aged care, grow a more skilled workforce and help older Australians stay in their home for longer.
Building on the success of the First Home Loan Deposit Scheme and the temporary New Home Guarantee, the Government is providing a pathway to home ownership to support single parents and extending the New Home Guarantee.
The Government is undertaking significant reform of the mental health and suicide prevention system with a $2.3 billion package. This will deliver the preventative, compassionate and effective care Australians deserve.
The Government is committing an additional $13.2 billion to the NDIS, ensuring that as the NDIS grows people with significant and permanent disability will have the funding they need to participate in the community and reach their goals.
Household electricity prices are 11.2 per cent lower than they were a year ago, and wholesale prices in the National Electricity Market are at their lowest levels in six years. The Government will support investment in new dispatchable generation and deliver affordable and reliable power for consumers in the nation’s electricity markets.
New Commonwealth programs will provide $895.5 million for initiatives to improve long-term resilience of Australian communities and households, and support the ongoing recovery needs of communities impacted by the 2019-20 bushfires.
Helping farmers attract and retain skilled workers for a technologically-proficient agriculture workforce of the future. This Government is providing $850.4 million to help farmers reach their goal of increasing output to $100 billion by 2030.